MWI Veterinary Supply
The 10-second takeaway
For the quarter ended June 30 (Q3), MWI Veterinary Supply met expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue increased. GAAP earnings per share increased.
Margins expanded across the board.
MWI Veterinary Supply recorded revenue of $606.4 million. The six analysts polled by S&P Capital IQ expected a top line of $607.4 million on the same basis. GAAP reported sales were 9.3% higher than the prior-year quarter's $554.7 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures are normalized by S&P Capital IQ and may vary to maintain comparability with normalized estimates.
EPS came in at $1.32. The six earnings estimates compiled by S&P Capital IQ forecast $1.24 per share. GAAP EPS of $1.32 for Q3 were 15% higher than the prior-year quarter's $1.15 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures are normalized by S&P Capital IQ and may vary to maintain comparability with normalized estimates.
For the quarter, gross margin was 12.8%, 30 basis points better than the prior-year quarter. Operating margin was 4.4%, 20 basis points better than the prior-year quarter. Net margin was 2.8%, 20 basis points better than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $610.5 million. On the bottom line, the average EPS estimate is $1.10.
Next year's average estimate for revenue is $2.35 billion. The average EPS estimate is $4.94.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 108 members out of 112 rating the stock outperform, and four members rating it underperform. Among 32 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 32 give MWI Veterinary Supply a green thumbs-up, and give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on MWI Veterinary Supply is outperform, with an average price target of $120.00.
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